What is his annual inventory turns

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Jake’s Beer, Bait, & Tackle Co. is a small chain of fishing tackle stores in northern Minnesota. In 2009, the company’s revenue was $4,300,000 and its cost of goods sold was $3,200,000. Assume 52 weeks and 365 days per year. Assume that the annual inventory holding cost for Jake’s is 40%.

Jake keeps only 5.5 days-of-supply of inventory on average because much of his inventory is live bait and micro-brew beer, both of which have a short shelf life. What is his annual inventory turns? (Round your answer to two decimal places)

Reference no: EM131228642

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